Cryptocurrency exchange BKEX froze customer withdrawals on its platform to cooperate with the police investigation into alleged money laundering by some of its users. The exchange said on Monday that it decided to halt the takedown in order to help authorities collect evidence.
“The team will actively work with the relevant authorities to resolve the current issues encountered to ensure that the rights of our users are protected to the greatest extent possible,” BKEX said in a statement. A declaration on his blog.
#BKEX Announcement on suspension of withdrawals
– Details: https://t.co/gDh6Z3bg9apic.twitter.com/EMTEuU2DDO
— BKEX (@BKEXGlobal) May 29, 2023
The exchange assured that it would “do its best to restore the normal functioning of the exchange”. BKEX through the platform provides users with crypto, derivatives, and margin trading functionality.
According CoinMarketCapBKEX was founded in June 2018 and has over 8 million users in over 100 countries across Asia, Europe, and Latin America, among others.
The money laundering investigation at BKEX comes several months after Bulgarian law enforcement authorities, in partnership with foreign agents, raided the local offices of cryptocurrency lending company, Nexo. During the raid, a total of 15 company offices were raided.
finance tycoons reported that prosecutors have launched an international operation to investigate the exchange for allegedly committing financial crimes, failing its anti-money laundering (AML) processes, and authorizing transactions that violate international sanctions against the Russia.
Siika Mileva, Bulgaria’s chief prosecutor, through a spokesperson, alleged that one of the firm’s clients was someone linked to financial terrorism. Additionally, she noted that the crypto firm has processed over 94 billion euros in the past five years, according to local media.
However, reacting to the development, Nexo in a Twitter post accused prosecutors of taking the “kick first, ask questions later” approach. The crypto lender noted that the company “never compromises” with its “very strict” AML-customer policies.
new recruit from Scope Markets; more features on CQG; read today’s news nuggets.
Cryptocurrency exchange BKEX froze customer withdrawals on its platform to cooperate with the police investigation into alleged money laundering by some of its users. The exchange said on Monday that it decided to halt the takedown in order to help authorities collect evidence.
“The team will actively work with the relevant authorities to resolve the current issues encountered to ensure that the rights of our users are protected to the greatest extent possible,” BKEX said in a statement. A declaration on his blog.
#BKEX Announcement on suspension of withdrawals
– Details: https://t.co/gDh6Z3bg9apic.twitter.com/EMTEuU2DDO
— BKEX (@BKEXGlobal) May 29, 2023
The exchange assured that it would “do its best to restore the normal functioning of the exchange”. BKEX through the platform provides users with crypto, derivatives, and margin trading functionality.
According CoinMarketCapBKEX was founded in June 2018 and has over 8 million users in over 100 countries across Asia, Europe, and Latin America, among others.
The money laundering investigation at BKEX comes several months after Bulgarian law enforcement authorities, in partnership with foreign agents, raided the local offices of cryptocurrency lending company, Nexo. During the raid, a total of 15 company offices were raided.
finance tycoons reported that prosecutors have launched an international operation to investigate the exchange for allegedly committing financial crimes, failing its anti-money laundering (AML) processes, and authorizing transactions that violate international sanctions against the Russia.
Siika Mileva, Bulgaria’s chief prosecutor, through a spokesperson, alleged that one of the firm’s clients was someone linked to financial terrorism. Additionally, she noted that the crypto firm has processed over 94 billion euros in the past five years, according to local media.
However, reacting to the development, Nexo in a Twitter post accused prosecutors of taking the “kick first, ask questions later” approach. The crypto lender noted that the company “never compromises” with its “very strict” AML-customer policies.
new recruit from Scope Markets; more features on CQG; read today’s news nuggets.